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Feb 5, 2013
02/13
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president obama has signed a debt ceiling suspension into law. the measure allows the government to keep borrowing to pay its bills. it puts off the next congressional battle over the debt ceiling until may. boeing is asking the faa for permission to resume test flights of its grounded 787 jet. it wants to test the batteries and other components in flight since certain conditions can't be simulated on the ground. the faa is evaluating boeing's request. >>> in wall street 2013 rally interrupted with a major averages suffering their worst one-day loss in a year on monday's trading. the last hour we spoke to goldman's jim o'neil about the prospects of making money in this market. >> i think to sell if you're a medium term player is probably not a smart move. but if you've made all the gains, to take some off the table isn't a crazy idea either. >> joining us now is nouriel roubini, chairman and co-founder of roubini global economics. you're not like a market master, maybe like a market jedi. plus andrew still here from fortune magazine. the one and
president obama has signed a debt ceiling suspension into law. the measure allows the government to keep borrowing to pay its bills. it puts off the next congressional battle over the debt ceiling until may. boeing is asking the faa for permission to resume test flights of its grounded 787 jet. it wants to test the batteries and other components in flight since certain conditions can't be simulated on the ground. the faa is evaluating boeing's request. >>> in wall street 2013 rally...
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Feb 6, 2013
02/13
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if you lost track of the debt ceiling and budget battles t came out of the debt limit deal. it was the white house's idea to hold washington's feet to the fire. the cuts were never supposed to happen. the committee that replaced them failed and at the start of the ewe near, the deal triggered even further until march 1st. we are faced with the looming cuts a few weeks away that boiled down to $85 billion that will be slashed by this fall if nothing happens. the focus has been on the cuts and the entire $1.2 trillion will be a 50-50 defense between defense and spending. to put us into perspective is the center for social inclusion. the sequester was designed to be something that would never happen. prot expect would scare washington into coming out with something else. there sounds out of washington, particularly from republicans that they might be okay with nothing happening and sequester being triggered. half is defense and half non-domestic discretionary spending. can you explain to people what would be cut if the sequester goes into effect. >> it's a pleasure to be here.
if you lost track of the debt ceiling and budget battles t came out of the debt limit deal. it was the white house's idea to hold washington's feet to the fire. the cuts were never supposed to happen. the committee that replaced them failed and at the start of the ewe near, the deal triggered even further until march 1st. we are faced with the looming cuts a few weeks away that boiled down to $85 billion that will be slashed by this fall if nothing happens. the focus has been on the cuts and...
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Feb 10, 2013
02/13
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this is not like the debt ceiling. the debt ceiling we were all terrified. if we even went a few hours with the u.s. government not paying interest on its debt, then god knows what would have happened. this is not like that. this is something where the negative effects kick in gradually. the world won't end if we go a month into this thing, so he can afford to wait, where i believe the republicans will have to cave eventually. what he should be looking for is i think some face-saving way for everybody to just kick this can down the road. we shouldn't be doing anything right now. >> [ inaudible ]. >> we could have some vague spending cuts promised in the future, some real revenue sources. >> all in the future. because you don't want any austerity now. >> this is a terrible time to do it now. >> i think his reaction depends on whether or not the republicans can hold their coalition together. and if they can create a coalition that holds together, which might even include some democrats, i think they can prevail on this issue and get a small amount of cost redu
this is not like the debt ceiling. the debt ceiling we were all terrified. if we even went a few hours with the u.s. government not paying interest on its debt, then god knows what would have happened. this is not like that. this is something where the negative effects kick in gradually. the world won't end if we go a month into this thing, so he can afford to wait, where i believe the republicans will have to cave eventually. what he should be looking for is i think some face-saving way for...
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Feb 13, 2013
02/13
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CSPAN2
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then we move into the debt limit, the debt ceiling deadline of may 19th, the time, ladies and gentlemen, where we -- if we can work together, if we can work together as a -- the representatives of the people of this great country come together and find the solutions that will get us on the pro-growth path because you can't balance the budget solely on raising taxes. you can't blansz the budget sewly on spending reductions. you've got to get the economy rolling again, and for us, that means appropriate tax reform. it means savings, strengthening medicare, medicaid, social security, programs currently on the path for bankruptcy. means adopting a scene energy program for the country so with are independent so we stop sending money overseas over and over and over, and it means recognizing we're a red tape regulation nation now destroying the ability for small businesses to create jobs. pro-growth policies get us out of the dull drums we're in now. the challenge as the fourth of state. i don't ask you to driveway with us on any of these, but i challenge you to make certain that as you look a
then we move into the debt limit, the debt ceiling deadline of may 19th, the time, ladies and gentlemen, where we -- if we can work together, if we can work together as a -- the representatives of the people of this great country come together and find the solutions that will get us on the pro-growth path because you can't balance the budget solely on raising taxes. you can't blansz the budget sewly on spending reductions. you've got to get the economy rolling again, and for us, that means...
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Feb 12, 2013
02/13
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>> not only debt ceiling but last tuesday he put up sequestration. we're not going to come to an agreement, a couple of solutions, kick that can down the road, time to think and talk about it. you saw it grind higher. not real volume. listen, you want them, pay up, we're happy to sell on the way up. >> we're going to talk about apple during the course of the session, course of the program. what is your takeaway from what tim cook said or didn't say today? >> listen, i think it's very interesting this whole conversation with what einhorn has now created with apple. this conversation ensuing. i like apple. i like apple where it is at the moment. >> did you like it all the way down. >> i said a long time ago when it started to crack at 700, you had to be careful. there's so many names we saw at the end of the year, get into it, push and push the way the market got ahead of itself. i fully expect the market will back off some. it needs to some. if you look it up, exactly what it did over couple of months. >> thank you. breaking news in the bond market, t
>> not only debt ceiling but last tuesday he put up sequestration. we're not going to come to an agreement, a couple of solutions, kick that can down the road, time to think and talk about it. you saw it grind higher. not real volume. listen, you want them, pay up, we're happy to sell on the way up. >> we're going to talk about apple during the course of the session, course of the program. what is your takeaway from what tim cook said or didn't say today? >> listen, i think...
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Feb 12, 2013
02/13
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limit, debt ceiling deadline of may 19. the time, ladies and gentlemen, where we if we can work together, if we can work together as a -- as the representatives of the people of this great country, come together and find the solutions that will get us on the pro-growth path. because you can't balance the budget solely on raising taxes you can't budget the balance -- balance the budget solely on spend regular duckses. you have to get the economy rolling again. for us that means appropriate tax reform, saving, strengthening, and securing medicare, medicaid, an social security, programs on a path to bankruptcy. it means adopting a sane energy policy to make it so we're energy independent, we don't have to continue to send money overseas, over and over and over. and also it means recognizing that we are a red tape regulation nation right now that is destroying the ability for small and large businesses to create jobs. pro growth policies are what will actually get us out of the doll drum wers in right now. finally, let me leave
limit, debt ceiling deadline of may 19. the time, ladies and gentlemen, where we if we can work together, if we can work together as a -- as the representatives of the people of this great country, come together and find the solutions that will get us on the pro-growth path. because you can't balance the budget solely on raising taxes you can't budget the balance -- balance the budget solely on spend regular duckses. you have to get the economy rolling again. for us that means appropriate tax...
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Feb 4, 2013
02/13
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then they decide not to fight on the debt ceiling and they need to move the attention on to something else. say they do have leverage elsewhere. so they have chosen sequester and put up a very brave face on it. it's possible they could convince themselves to let it actually happen but the idea that they get some sort of significant political gain from it, these are cuts they hated and they hated in large part because they hurt things they care about. so to permit the sequester to go forward on that kind of rationale is not a political win, not a policy win. everybody is losing. >> the "new york times" op-ed says more than a million jobs are on the line if this deal isn't made. a quote saying the losses will soon spread as contracts to states and cities are cut, education and police grants are cut, and payments to medicare providers are cut, even the aid just approved to victims of hurricane sandy will fall under the sequester's act. americans are about to find out what happens when an entire political party demands deficit reduction at all costs because those costs will be enormous. t
then they decide not to fight on the debt ceiling and they need to move the attention on to something else. say they do have leverage elsewhere. so they have chosen sequester and put up a very brave face on it. it's possible they could convince themselves to let it actually happen but the idea that they get some sort of significant political gain from it, these are cuts they hated and they hated in large part because they hurt things they care about. so to permit the sequester to go forward on...
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Feb 6, 2013
02/13
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there are other taxes put in place and the debt ceiling will be dealt with. that will be a big battle between entitlement cuts and raising the debt ceiling. i think all these issues will bear on the market when people are very enthusiastic about it. i think this market is vulnerable. >> interesting to date, with all the noise in the market, stocks have been able to put on pretty good ear plugs. >> that's often the case. you've been around long enough. sometimes the market sloughs off bad news until it doesn't. >> that's for sure. >> how about your earnings forecast? 100 bucks, less than many people on the street are expecting. how does that mesh with the fact you're coming off a pretty good earnings season. expectations have come down but two-thirds of the companies have beaten. >> two-thirds of companies have beaten but you look at a chart of expectations, they're coming down. earnings expectations are rolling over and performance is coming down. the s&p has been able to earn $25 or better a quarter. i think we will see quarters $23. i don't think the market
there are other taxes put in place and the debt ceiling will be dealt with. that will be a big battle between entitlement cuts and raising the debt ceiling. i think all these issues will bear on the market when people are very enthusiastic about it. i think this market is vulnerable. >> interesting to date, with all the noise in the market, stocks have been able to put on pretty good ear plugs. >> that's often the case. you've been around long enough. sometimes the market sloughs...
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Feb 11, 2013
02/13
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FBC
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fast forward 18 months we've resolved the debt ceiling issues and the fiscal cliff to boot. the ecb has done a 180 on supporting spain. the equity markets have more than fully recovered and yet bonds are still mired down to 1 1/2 to 2%. if this is year people wake up and say rates are too low for the conditions. lori:. lori: do you believe the markets are undervalued. many are near 52-week highs. many all-time highs but you still think there is value? >> we look long term people get obsessed with numbers on the s&p because that is where we peaked back in '99 and 2000. they assumed it was overvalued there because it was overvalued then. in our price matters '99 and 2000 that was 100% overvalued. that happened four times in history. every time that's happened you spend about 12 to 14 years chopping sideways. we're getting to the end of that. on that same 1550 type level we're now thinking it is 10 to 15% undervalued. why would that be? well earnings have more than doubled in that 13-year period. ashley: so where, i'm an investor. i'm getting out of bonds. i want a slice of thi
fast forward 18 months we've resolved the debt ceiling issues and the fiscal cliff to boot. the ecb has done a 180 on supporting spain. the equity markets have more than fully recovered and yet bonds are still mired down to 1 1/2 to 2%. if this is year people wake up and say rates are too low for the conditions. lori:. lori: do you believe the markets are undervalued. many are near 52-week highs. many all-time highs but you still think there is value? >> we look long term people get...
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Feb 8, 2013
02/13
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. >> nobody is worried about this upcoming debate on sequestration, on the debt ceiling. you think that creates noise and disruption. >> i do, maria. i think that you've got a trifecta coming off, you've got the skywest raise and the debt ceiling and the eurozone so there's still a lot of volatility out there, so that's have we're cautiously optimistic. you need to be properly allocated in order to reap the rewards of the greatest capital machine in the world which is our united states stock market. >> thanks, everybody. appreciate your time. >> we'll see you soon in the final stretch of trading. we've got a market that's higher on the dow jones industrial average. >> remember, the dow needs to be up 66 points or there abouts to be positive. don't look now but suddenly apple is up past $475 a share and it's all because big investors have a beef with the board. we'll talk to one major investor who is on apple's side in this battle. >> look outside new york city and our cnbc headquarters. it is bad and it's getting worse. the big worry now, power outages. believe it or not,
. >> nobody is worried about this upcoming debate on sequestration, on the debt ceiling. you think that creates noise and disruption. >> i do, maria. i think that you've got a trifecta coming off, you've got the skywest raise and the debt ceiling and the eurozone so there's still a lot of volatility out there, so that's have we're cautiously optimistic. you need to be properly allocated in order to reap the rewards of the greatest capital machine in the world which is our united...
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Feb 5, 2013
02/13
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the house and senate extended the debt ceiling. president obama has signed the no budget, no pay act of 2013. not only does that put off the nation's debt obligations until may 18th, it also withholds pay for a number of congressmen and womenless women unless they pass a budget by april. >>> eight senators have voted to block the violence against women act. that bill would protect victims of domestic violence and this particular version extends that care to illegal immigrants, native americans and lgbt members. senators who voted against considering that bill include ted cruz, marco rubio and rand paul, all republicans. more bill's up next. stay with us. to me now? you know the kind of guys that do reverse mortgage commercials? those types are coming on to me all the time now. (vo) she gets the comedians laughing and the thinkers thinking. >>ok, so there's wiggle room in the ten commandments, that's what you're saying. you would rather deal with ahmadinejad than me. >>absolutely. >> and so would mitt romney. (vo) she's joy behar. >
the house and senate extended the debt ceiling. president obama has signed the no budget, no pay act of 2013. not only does that put off the nation's debt obligations until may 18th, it also withholds pay for a number of congressmen and womenless women unless they pass a budget by april. >>> eight senators have voted to block the violence against women act. that bill would protect victims of domestic violence and this particular version extends that care to illegal immigrants, native...
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Feb 6, 2013
02/13
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>> the sky will fall if you don't deal with the debt ceiling. but i think unfortunately, this is the price that we pay in the fiscal cliff deal. the democrats paid. i said at the time that i thought it was a short term victory for the democrats, but a long term victory for the republicans because we gave away our leverage on tax increases. so, sure, i have no objection to giving away the carried interest on some of the projects and loophole, but the fact is we're not in position to do that and i think we ought to get serious about the deficit and the best way to get serious about the deficit is go right over the cliff. the likelihood of having a real agreement between the white house and the conservative republicans is pretty close to zero. so i think we should take our medicine now. i don't think our sky are fall if we take the sequesters. i think from a democratic view, it's the only way we'll get the kind of defense cuts that we really need to get and we need to take our medicine. >> what i'm hearing is you disagree with the president and you
>> the sky will fall if you don't deal with the debt ceiling. but i think unfortunately, this is the price that we pay in the fiscal cliff deal. the democrats paid. i said at the time that i thought it was a short term victory for the democrats, but a long term victory for the republicans because we gave away our leverage on tax increases. so, sure, i have no objection to giving away the carried interest on some of the projects and loophole, but the fact is we're not in position to do...
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the debt ceiling continues to go up and the overall debt. they are very concerned about all of those things. lori: do you think washington has the best interests of small business at heart? >> well, i hope so. the unfortunate part is we are seeing it in the administration. it continues to attack small business. washington has a spending problem, not a revenue problem. we hear about this every single week. lori: you point out that many small businesses do not have lawyers or lobbyists that focus on this. the list goes on and on. that is a serious problem. a serious disadvantage for them, correct? >> exactly. they do not have the resources. that is one of the reasons why we are trying to provide the voice for small businesses. we need to be the advocate for small businesses here in washington. lori: you look at our ballooning national debt in the battle over the current deficit. what is the best outcome? >> that would be for the federal government to reduce spending. that is just all there is to it. lori: where exactly? i have to interrupt you
the debt ceiling continues to go up and the overall debt. they are very concerned about all of those things. lori: do you think washington has the best interests of small business at heart? >> well, i hope so. the unfortunate part is we are seeing it in the administration. it continues to attack small business. washington has a spending problem, not a revenue problem. we hear about this every single week. lori: you point out that many small businesses do not have lawyers or lobbyists that...
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Feb 8, 2013
02/13
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so i think the concern about article you should ourselves in the foot, you know, not raise the debt ceiling or not come to an agreement on various things. one of the main things, i am still i think more nervous about europe and some people, precisely because though interest rates are down in some of the most troubled countries, their troubles are still there. so i don't think that's a problem that has gone away. i do think we still have a risk to the economy. unfortunately, that does he is heading off the robust fast recovery. i think 2013 will be better than 2012. i wish i could tell you it will be really, really good because that's what we dashed we need. >> i'm not a forecaster. i don't have a ph.d in economics. i specialize in economic policy. so i tried to be a good consumer of other forecasts. one thing i've learned from that is frankly i don't trust any macro forecast that goes beyond six months. because i don't think anyone is any -- they're just guessing beyond that. i think we probably, at least i would have similar reactions. i am still very concerned about the risk posed by euro
so i think the concern about article you should ourselves in the foot, you know, not raise the debt ceiling or not come to an agreement on various things. one of the main things, i am still i think more nervous about europe and some people, precisely because though interest rates are down in some of the most troubled countries, their troubles are still there. so i don't think that's a problem that has gone away. i do think we still have a risk to the economy. unfortunately, that does he is...
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Feb 5, 2013
02/13
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it's been on debt ceilings, budgets, deadlines and negotiations. all of this is extremely important because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that's facing us, our children and theirs. and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing this country. but today i'd like to focus really on what lies beyond the fiscal debate. over the next two years, our house majority will pursue an agenda that is based on a shared vision of creating the conditions of health, happiness and prosperity for more americans and their families. and to restrain washington from interfering in those pursuits. we'll advance proposals aimed at producing results in areas like education, health care, innovation and job growth. our solutions will be based on the conservative presence of self-reliance, faith in the individual, trust in family and accountability in government. our goal is
it's been on debt ceilings, budgets, deadlines and negotiations. all of this is extremely important because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that's facing us, our children and theirs. and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing this country. but today i'd like to focus really on what lies...